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EURJPY TECHS

Pulls Back From Tuesday’s High

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Paring Initial Bid

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Resumes Its Uptrend

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Yen Finds Poise, Will It Snap Impressive Losing Streak?

JPY
BulletMarketsForeign ExchangeBank of Japan (BOJ) Market News

The yen regains poise after its dramatic losing streak, with broader USD weakness helping USD/JPY move away from two-decade highs. The pair has pulled back below the Y129.00 figure and last trades at Y128.75, 15 pips lower on the day.

  • The BoJ conducted unlimited fixed-rate bond purchases today in response to 10-Year JGB yield testing the upper end of its permitted trading band.
  • Meanwhile, Dep Chief Cabinet Sec Isozaki reiterated that officials are watching yen depreciation with vigilance and emphasised the importance of stability in FX markets.
  • The technical picture outlined in our previous JPY bullet remains in play.
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The yen regains poise after its dramatic losing streak, with broader USD weakness helping USD/JPY move away from two-decade highs. The pair has pulled back below the Y129.00 figure and last trades at Y128.75, 15 pips lower on the day.

  • The BoJ conducted unlimited fixed-rate bond purchases today in response to 10-Year JGB yield testing the upper end of its permitted trading band.
  • Meanwhile, Dep Chief Cabinet Sec Isozaki reiterated that officials are watching yen depreciation with vigilance and emphasised the importance of stability in FX markets.
  • The technical picture outlined in our previous JPY bullet remains in play.